8537
VIP Member
2001 Recession
It lasted eight months (March-November 2001). It was caused by the Y2K scare, which created a boom and subsequent bust in Internet businesses. It was aggravated by the 9/11 attack. The economy contracted in two quarters: Q1 -1.3% (-.5%) and Q3 -1.1% (-1.4%). Unemployment reached 5.7% during the recession, but rose even further to 6% in June 2003. This often happens in recessions, as unemployment is a lagging indicator. Most employers wait until they are sure the economy is back on its feet again before hiring permanent employees.
You once again turn to unrelated numbers to disprove simple facts. I said Nominal GDP. you quoted real GDP. I can't be held accountable if you don't know the difference.
I said before he took office. Once again, you qoute unrelated facts to disprove a simple fact. The economy lost 802,000 jobs in November of 2008. It lost 820,000 the month he took office (Jan, 2009).This should take care of jobs lost, never did we hit 700k a month until after BHO was elected
2007...... 137,598 115,380 22,233 724 7,630 13,879
2008...... 136,790 114,281 21,334 767 7,162 13,406
2009...... 130,807 108,252 18,557 694 6,016 11,847
2010...... 129,818 107,337 17,755 705 5,526 11,524
By march, the losses had stabilized and begun to improve - and by march of the following year we were creating 192,000 jobs.
Of course, for a guy who claims the president isn't responsible you're sure working awfully hard to claim the president is responsible.
Not at all
My point here is 100% about the debt we have taken on in 24 months
we compare presidents
we talk about policy
and the media put ol W in a place that Obama and history will correct
This massive job loss would be in the same place without all of this debt
Tarp with the exception of The items Obama used it for as as well as maybe AIG is going to be paid back
The bleeding was stopped when congress and W put there 350 billion dollar fire wall up, November 2008
Thats it
The bleeding stopped? We lost over 500K jobs per month for months after that, and GDP declined at an annualized 7% rate after.